As many of you may have read last week, Apple had a big
announcement-pause-they released two more I-phones. As someone whom experienced dial-up internet and phones that
were attached to the wall, I am able to reflect on the
changes in society since the release of the original I-phone. While I may be speaking to a reader who
laughs at my references mentioned as a humorous nod to feeling old at 25, I
would reply that during my lifetime we have experienced more shifts in the
entire framework of society than at any other point in history. As an electrical contractor in North Carolina, Beco has certainly seen its share of advances in technology. A professor once joked that when they
wanted to know how to make strawberry jam they would have to call around to
friends and family and that if no one knew how to make strawberry jam than
there goes that idea but now you have the whole world at the tips of your
fingers.
The true importance in this story is the I-Phone 5C. The 5C is touted as “beautifully, apologetically plastic,” and with its price half of the other new I-Phone 5S, is undoubtedly aimed towards emerging markets like China or India. When the I-Phone was first released, it was a technological breakthrough. Today, that technology has completely changed the way we communicate, obtain information and do business. Competitors using the Android operating system have caught up and even surpassed the iPhone's capabilities in some peoples minds, but now Apple has been able to provide all the ease and productivity at a lower cost. The same is true for Beco, which has gone from only one location decades ago, to providing electrical services not only in the Triad of North Carolina, but across the entire state.
There is no need for an economics lesson here, but this is just another example of the power of mass production. Due to the huge market for smart phones, Apple has been able to drive down the production costs. Remember when I said that the original iPhone technology completely changed the way we communicate, obtain information, and do business? Just imagine what its impact can be when the cost of entry is even lower. For example, starting a business (especially retail and the restaurant industry) has become much more attainable with the invention of technologies such as 4Square and PayPal, eliminating expensive computer software and equipment. The other less obvious effects are seen once you lower the cost barriers to technology and more people are able to utilize these products, as well as learn about them and even utilize them to create other useful products.
Now take the iPhone 5C and apply it to other products that have price barriers, but could provide significant benefits to society such as renewable energy. We look to continue this conversation with an exploration of the learning thermostat- which I will address in the next post.
The true importance in this story is the I-Phone 5C. The 5C is touted as “beautifully, apologetically plastic,” and with its price half of the other new I-Phone 5S, is undoubtedly aimed towards emerging markets like China or India. When the I-Phone was first released, it was a technological breakthrough. Today, that technology has completely changed the way we communicate, obtain information and do business. Competitors using the Android operating system have caught up and even surpassed the iPhone's capabilities in some peoples minds, but now Apple has been able to provide all the ease and productivity at a lower cost. The same is true for Beco, which has gone from only one location decades ago, to providing electrical services not only in the Triad of North Carolina, but across the entire state.
There is no need for an economics lesson here, but this is just another example of the power of mass production. Due to the huge market for smart phones, Apple has been able to drive down the production costs. Remember when I said that the original iPhone technology completely changed the way we communicate, obtain information, and do business? Just imagine what its impact can be when the cost of entry is even lower. For example, starting a business (especially retail and the restaurant industry) has become much more attainable with the invention of technologies such as 4Square and PayPal, eliminating expensive computer software and equipment. The other less obvious effects are seen once you lower the cost barriers to technology and more people are able to utilize these products, as well as learn about them and even utilize them to create other useful products.
Now take the iPhone 5C and apply it to other products that have price barriers, but could provide significant benefits to society such as renewable energy. We look to continue this conversation with an exploration of the learning thermostat- which I will address in the next post.
Check out this smart energy product: Introducing Soccket by Uncharted Play, where thirty minutes of play can power an LED
lamp for up to three hours.
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